Washington/The Hague/Tunis, May 17,
2011— IFC, a member of the World Bank Group, the Netherlands Development
Finance Company (FMO), and the African Development Bank (AfDB), are
investing €66 million in the Dibamba Power Development Company to help
it build an 86 megawatt powerplant that will ensure a reliable electricity
supply and improve energy security in Cameroon.

The Dibamba Power Development Company
is a subsidiary of the AES Corporation and is 44 percent owned by
the government of Cameroon.

IFC, FMO and AfDB are each lending €22
million to the €92 million Dibamba project, a heavy fuel, oil-fired power
plant located near Douala, Cameroon‘s industrial center. The plant will
be connected to the Southern Interconnected Grid via a two-kilometer transmission
line, also financed as part of the project.

Andrew Vesey, AES Executive Vice President
and President of the Latin America and Africa Region, said, “The expansion
of Dibamba will help meet the growing domestic demand for electricity and
contribute directly to the development of Cameroon’s electric power infrastructure.
We are pleased to work with institutions that share our commitment to responding
to Cameroon’s critical infrastructure needs.”
Bernard Sheahan, IFC Director for Infrastructure in Africa and Latin America,
said, “As Cameroon‘s first IPP, the Dibamba project marks an important
next step in the country’s development of its power sector and serves
as an example of how privatization and sector reform can help attract private
sector investment to the region.IFC is very pleased to be a long term partner
to AES and the Government of Cameroon in the development of the country’s
power sector“.

Dave Smit, FMO‘s Manager Structured
Finance Energy, said, “The power supply from the Dibamba project contributes
to diversifying Cameroon’s energy mix, improving overall reliability of
electricity supply, and will boost the country’s energy net supply capacity
by around 10 percent. FMO is very pleased to play a part in stimulating
Cameroon‘s development in this way.“

Neside Tas Anvaripour, Division Manager,
Infrastructure and Private Public Partnerships, Private Sector Department,
in the African Development Bank,said, “A reliable and affordable energy
supply is critical to enhancing private sector development, growing the
economy, and reducing poverty. By building new power infrastructure, the
Dibamba plant addresses one of AfDB’s key objectives, which is to help
improve the availability and reliability of electricity to industries and
households.”

The Dibamba plant,Cameroon’s first independent
power producer, has been developed to avoid imminent electricity shortages
and avert an emergency power situation. It will help Cameroon meet its
growing demand for power, particularly during peak periods, and provides
a much-needed thermal component to a largely hydro based system, which
is unreliable in years of poor rainfall.

The project will initially be oil-based,
but the long-term debt includes an incentive for the plant’s conversion
to gas at a later stage.

About IFCIFC, a member of the World Bank Group,
is the largest global development institution focused on the private sector
in developing countries. We create opportunity for people to escape poverty
and improve their lives. We do so by providing financing to help businesses
employ more people and supply essential services, by mobilizing capital
from others, and by delivering advisory services to ensure sustainable
development. In a time of global economic uncertainty, our new investments
climbed to a record $18 billion in fiscal 2010. For more information, visit
www.ifc.org.

About FMO The Netherlands Development Finance Company (FMO) is the international
entrepreneurial bank of the Netherlands. FMO invests risk capital in companies
and financial institutions in developing countries. With an investment
portfolio of EUR 5.3 billion, FMO is one of the largest bilateral private
sector development banks worldwide. Thanks in part to its relationship
with the Dutch government, FMO is able to take risks which commercial financiers
are not - or not yet - prepared to take. FMO's mission: to create flourishing
enterprises, which can serve as engines of sustainable growth in their
countries.

About AfDBThe African Development Bank (AfDB) is a multilateral institution that
promotes sustainable development in Africa. It is the premier development
financial institution of Africa, engaged in mobilizing resources for the
economic and social progress of its 53 African Regional Member Countries
(RMCs).

The AfDB provides a range of financial
products for the private sector to complement its traditional lending operations
to governments. The Bank Group promotes strong social and corporate governance
standards as well as help African Companies achieve international best
practices, making them more competitive at home and in the international
marketplace.